All Forum Posts by: Lorenzo Smith

I have an opportunity to purchase 4 duplexes. They sit next to each Other on 3 seperate lots. If I have all parcels combined. Can That add value as an 8 unIt complex. OR Is It best to stay seperate?

Yellowletterhq

Go to kcflipthathouse.com to see what we have available

I have an opportunity to hit a home run on a property that I purchased. My option are to to brrrr or to sale. My bank verbally denied me without looking at my credit after reviewing my income statement to determine that my income wAs insufficient thanks to all the awesome tax laws that allows me to write off mileage and depreciation even though my gross came in over 120 something or the fact I own real estate some out right. So tell hell with them I said I figured I can use the liquid anyway so let's sale. Now my problem is are partner Uncle Sam do I want to give uncle Sam all that bread from my hard thought and hustles? NO !! But should I sale and pay up?Will that make me bank worthy in the land of the soft and slow money?Would a 1031 exchange be considered as income for a the bank?

I have access to  4side by side duplexes that you may have interest in. Also a 4 plex that I just rehabbed that you may be interested in as well.

I have a 4plex in emporia under contract would you have interest in that?

How can I help you meet your real estate needs.

I know there lenders out that lend based off the income the property brings in, maybe a portfolio lender would be interested in this.

I  purchased my 1st small multi unit 4 plex with hard money in Kansas City Mo

I Got an awesome deal on Paseo Blvd .  Across from a univerisity, Minutes from Plaza Shopping Center.

This building also has another unit in the basement for more income. When it was appraised the appraiser told me "I think its worth over $300000 but i cant prove it." IN the terms of my loan i have to pay this loan off iwithin 6 months. if i sold i would nearly recognize a net profit of $100000 which sounds amazing to me until i think about ya boy uncle Sam and it dont seem much worth it after he takes his. i know i could possibly role it over into another property via 1031 exchange which i may have to do but my best options is the BRRRR Ibought it im currently rehabbing and placing tenants so i expect to have it finished and rented within 2months. Now my issue is the refi which holds me up from repeating. My scores are fair i fall short of bankabilty as ive been self enployed for years. My hopes is the bigger pockets community can offer some suggestions and feed back as this is where i find myself stuck at over and over in my investment business.

After Im over this hurdle sky are the limit.

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I close on a 4 unit complex 3 bed 1 bath each Across the street from a university. My intent was to furnish each unit and rent to the university after this pod cast I'm going to keep a unit available for short term rentals. I loved this one thanks for all you guys do.